A group of activist shareholders has filed a proposed class action lawsuit against Tesla and CEO Elon Musk, accusing them of securities fraud related to the Robotaxi launch in Austin, Texas. The shareholders claim the company misled investors about the safety of the vehicles involved, pointing to videos that demonstrate erratic driving behaviors. They are seeking damages for investors from April 19, 2023, to June 22, 2025. Despite the Robotaxi operating for less than two months, critics express concern over the safety risks involved in the expansion of the program.
The shareholders claim Tesla misled investors about the safety of the vehicles used in the Robotaxi rollout, citing risky behavior like speeding and improper lane changes.
Activist shareholders pose a significant threat to Tesla, according to Musk, who has voiced concerns during recent earnings calls regarding their impact on the company.
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